Ledyard National Bank Cuts Stock Holdings in Hologic, Inc. (NASDAQ:HOLX)

Ledyard National Bank trimmed its holdings in shares of Hologic, Inc. (NASDAQ:HOLX) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,015 shares of the medical equipment provider’s stock after selling 558 shares during the period. Ledyard National Bank’s holdings in Hologic were worth $653,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in shares of Hologic by 77.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,297,197 shares of the medical equipment provider’s stock valued at $490,931,000 after buying an additional 2,753,016 shares during the period. Swedbank AB bought a new stake in shares of Hologic during the first quarter valued at about $120,827,000. Black Creek Investment Management Inc. increased its position in shares of Hologic by 60.9% during the second quarter. Black Creek Investment Management Inc. now owns 2,338,970 shares of the medical equipment provider’s stock valued at $173,669,000 after buying an additional 885,524 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Hologic by 1,023.3% during the second quarter. Mackenzie Financial Corp now owns 895,699 shares of the medical equipment provider’s stock worth $66,506,000 after purchasing an additional 815,960 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Hologic during the second quarter worth about $39,427,000. 94.73% of the stock is currently owned by institutional investors.

Hologic Stock Performance

Shares of HOLX stock opened at $81.58 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.32 and a current ratio of 3.99. Hologic, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $84.67. The stock has a 50 day moving average price of $80.92 and a two-hundred day moving average price of $77.77. The company has a market capitalization of $19.04 billion, a P/E ratio of 41.62, a PEG ratio of 2.89 and a beta of 0.98.

Hologic (NASDAQ:HOLX) last announced its earnings results on Monday, July 29th. The medical equipment provider reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Hologic had a return on equity of 19.53% and a net margin of 17.59%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 earnings per share. Analysts expect that Hologic, Inc. will post 4.09 earnings per share for the current year.

Insider Activity at Hologic

In other Hologic news, insider Benjamin Jordan Cohn sold 5,093 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the transaction, the insider now owns 10,476 shares in the company, valued at approximately $858,927.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Hologic news, insider Brandon Schnittker sold 476 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $83.11, for a total value of $39,560.36. Following the completion of the transaction, the insider now owns 3,735 shares in the company, valued at approximately $310,415.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin Jordan Cohn sold 5,093 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $81.99, for a total value of $417,575.07. Following the completion of the transaction, the insider now owns 10,476 shares of the company’s stock, valued at approximately $858,927.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $82.00 price objective on shares of Hologic in a report on Friday, August 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Hologic in a research note on Tuesday, October 15th. Stephens reaffirmed an “overweight” rating and issued a $92.00 target price on shares of Hologic in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on Hologic from $91.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Mizuho upped their target price on Hologic from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.

Hologic Company Profile

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.